how do we manage that in the united states? how do we manage a cutsome spending that doesn't send us into a downward growth spiral? >> it's where you gutcut the spending. you're absolutely right the way you evaluated the trouble in europe, and that's a problem for us because they're our largest export partner. but the spending that we want to adjust is the spending that is automatic, and that is entitlements. social security a little bit but primarily medicare. >> right. >> and it goes up, up, up, and the problem is people living much longer than anybody thought. you don't have to cut it. you have to turn the curve down and make some adjustments. if you do it, a, you'll get some benefit in budgets, a lot of benefit in debt. >> we got waylaid a little bit in the past four years talking about government waste and fraud and stuff like that. in the long term, that's not the stuff that moves the deal. what you're talking about is what we have to change. >> it's entitlements. we have to fix social security because for years we've bee